Taxation Determination

TD 94/52W

Income tax: can funds be raised through an infrastructure borrowing before expenditure is contractually required to be made for the construction of an infrastructure facility, or the construction or acquisition of a related facility?

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FOI status:

Notice of Withdrawal

Taxation Determination TD 94/52 is withdrawn with effect from today.

1. TD 94/52 explains that where funds to be spent on construction or acquisition of 'infrastructure facilities' or 'related facilities' are raised before expenditure is contractually required to be made, those borrowings can be infrastructure borrowings under former sections 159GZZZU and 159GZZZW of the Income Tax Assessment Act 1936 (ITAA 1936) if they meet the requirements in section 159GZZZZA.

2. TD 94/52 deals with the former infrastructure borrowing provisions in Division 16L of Part III of the ITAA 1936, which were repealed by the Taxation Laws Amendment (Infrastructure Borrowings) Act 1997.

3. TD 94/52 has no ongoing relevance and is therefore withdrawn without replacement.

Commissioner of Taxation
7 December 2016

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

Previously issued as Draft TD 94/D5

References

ATO references:
NO 1-9N72KXS

Related Rulings/Determinations:

TD 94/49
TD 94/50
TD 94/51
TD 94/53

Subject References:
infrastructure borrowings
infrastructure facility
related facility

Legislative References:
ITAA 159GZZZU
ITAA 159GZZZW
ITAA 159GZZZZA(1)
ITAA 159GZZZZA(3)
ITAA 159GZZZZC
ITAA 159GZZZZD